European Markets Fall As Moderna Boss Says Vaccine Less Effective Against Omicron

Nov 30, 2021

European Markets Fall As Moderna Boss Says Vaccine Less Effective Against Omicron

European stocks tumbled in negative territory on Tuesday, canceling small gains earlier in the week, as increased concerns over the Omicron coronavirus strain could undermine the economic recovery.

The FTSE 100 (FTSE) dipped 0.3% in the afternoon trading in London, rebounding from larger losses during the day, while the French CAC (FCHI) lost 0.1% and the DAX (GDAXI) lost roughly 0.2% in Germany.

The decline occurred as Stephane Bancel, the CEO of pharmaceutical Moderna (MRNA), told the Financial Times that COVID-19 vaccines are probably won't be as successful against the Omicron strain as they have been against the Delta version.

The Chief executive of the pharma firm thinks that there will be a material drop. It's unclear exactly how much, because more information is needed. But all the scientists say that nothing good will come of it.

This mood differs from that of Pfizer (PFE) and BioNTech (BNTX), which believe that any novel vaccine might be updated very fast. The University of Oxford stated on Tuesday that there was no indication that vaccines would not protect from a severe course of the omicron disease, but that it was prepared to quickly create an upgraded version of its vaccine created with AstraZeneca (AZN.L) if needed.

As senior investment and markets analyst at Hargreaves Lansdown Susannah Streeter said, It's unclear how much less successful they may be, and the waiting game continues as scientists hurry to evaluate the new version, but fear is rising in this period of uncertainty.

Investors are concerned about Omicron's impact on the market, which risks lowering demand and becoming a big disaster for the global economy. Energy equities and banks are one of the largest losers.

Energy and banking equities have fallen the most as investors are concerned about Omicron’s impact on the market because the new strain risks reducing demand and becoming a big disaster for the global economy.

It also occurred as Eurozone inflation hit a new high of 4.9% this month, pushed by rising energy prices.

This was the highest level since the eurozone's inception in1999, putting additional pressure on the European Central Bank to react before its session next month on December 16th.

After the bell in New York, the S&P 500 (GSPC) sank 0.6% and the tech-heavy Nasdaq (IXIC) dipped 0.1%. The Dow Jones Industrial Average (DJI) opened 0.8% lower. Shares of travel and energy companies suffered losses, as investors worried that new limitations would reduce demand.

It followed a strong session on Monday for Wall Street, which reacted enthusiastically to information from US President Joe Biden that future lockdowns as a result of the strain were not on the table for the moment.

Consumer confidence in the United States fell in November, owing to fears about growing living costs and the pandemic.

The Conference Board's consumer sentiment index fell to 109.5 this month from 111.6 in October, stronger than forecast. This was the lowest level since February.

Consumers' confidence expectations declined to 87.6 from 89.0 during the same time, as the introduction of the new variation raised additional concerns.

Asian markets tumbled late in Tuesday's trading, shedding early gains as investors feared the Omicron strain will be resistant to vaccinations, causing significant economic damage.

In Japan, the Nikkei (N225) finished the day 1.6% down, reversing the whole 1.2% profit it had gained before in the session.

The Hong Kong Hang Seng Index (HSI) dipped 1.6%, while the Shanghai Composite Index (000001.SS) finished flat, as productivity in China's services sector rose at a somewhat slower rate in November.

Official statistics released on Tuesday revealed that the industry was harmed by further lockdown restrictions imposed by the government as they tried to manage the current outbreak.

At the same time, Hong Kong has expanded its restriction on non-residents from several African nations, including Angola, Ethiopia, Nigeria, and Zambia. For residents of these countries, entry is prohibited from 30 November.

Non-residents who have visited Austria, Australia, Belgium, Canada, Czech Republic, Denmark, Germany, Israel, and Italy within the last 21 days will be barred from entering the city beginning December 2.

Subscribe Our Newsletter

Musk Taunts Sanders, Suggests He’ll Sell More Tesla Stock
Musk Taunts Sanders, Suggests He’ll Sell More Tesla Stock

Elon Musk, the world's richest man, hurled a barrage of insults at Senator Bernie Sanders on Twitter after the senator reiterated his call for billionaires to pay more taxes. Musk even mentioned the possibility of selling additional Tesla Inc. stock, which would entail paying capital gains taxes.

Stocks
The Stock Market Got A Big Boost From The Bond Selloff. The Fed Could Change That.
The Stock Market Got A Big Boost From The Bond Selloff. The Fed Could Change That.

Avoid looking for the "positive news" that fueled the week's advances — there was none, at least not in the usual sense. Russia's attack on Ukraine seems to be far from over. Fed Chair Jerome Powell and several central bank officials have discussed the prospect of a half-point rate hike at forthcoming meetings.

Stocks
B2BROKER Liquidity B2BROKER Liquidity
Sponsored
Alexander

Is IUL a Good Investment Strategy? — A Guide for Beginner Investors
Funding retirement, saving for college tuition, and building wealth are important goals for many households. Investing in Indexed Universal Life (IUL) insurance can be a great way to help reach these objectives while also providing death benefit protection and tax advantages.

discover
bonk airdrop guide

Constantine

Bonk Airdrop Guide: How Can You Claim Free Tokens?

Get to know the Bonk project, learn about its origins, features, and how the Bonk airdrop will impact the Solana ecosystem in the future.

Blockchain
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Сonstantine

    Best Crypto to Buy Now: Guide for Investors

    Best Crypto To Buy Now

    Hazem

    Grok vs ChatGPT: What’s the Best AI Assistant You Need in 2025

    Grok vs ChatGPT

    Сonstantine

    How to Choose the Right Liquidity Provider for Your Brokerage

    How to Choose the Right Liquidity Provider for Your Brokerage

    Сonstantine

    Low-Latency Trading Defined: Speed, Strategy and Technology

    Low-Latency Trading Explained

    Hazem

    How Liquidity Depth Affects Slippage in High-Volume Trading

    Liquidity depth and slippage in trading

    Hazem

    What is FIX API Liquidity Connection and How Does it Power Institutional Trading?

    FIX API in institutional trading

    Сonstantine

    OTC Trading Strategies and Technologies to Succeed in Over-the-Counter Markets

    OTC Trading Strategies

    Alexander

    What is OTC Trading? A Complete Guide for 2025

    what is OTC

    Alexander

    Synthetic Futures: A Trader’s Guide to Replicating Positions with Options

    How to Trade Synthetic Futures

    Сonstantine

    Order Book Depth: What It Is And Why It Matters?

    Order Book Depth What It is And Why It Matters

    Alexander

    Spot vs Perpetual Futures: Which Is Right for You?

    Spot vs Perpetual Futures explained

    Hazem

    5 Reasons Traders Are Switching to Perpetual Futures

    5 Reasons to Switch to Perpetual Futures

    Constantine

    Top 3 Liquidity Challenges Facing New Exchanges and How to Solve Them

    Top 3 Liquidity Challenges Facing New Exchanges Today

    Constantine

    Financial Planning in the Cryptocurrency Era — Master Crypto and Digital Asset Strategies

    Financial Planning in the Cryptocurrency Era

    Hazem

    Best Platforms to Trade Perpetual Futures in 2025

    Best platforms to trade perpetual futures in 2025

    Alex

    Top 10 Fintech Website Development Agencies for 2025

    Best Fintech Website Development Agencies for 2025

    Сonstantine

    Internal vs External Range Liquidity In ICT Trading Explained

    Internal vs External Range Liquidity In ICT Trading

    Constantine

    Portfolio Backtesting — Tools, Metrics, and Methods Explained

    Portfolio Backtesting

    Сonstantine

    ICT Trading Explained: Smart Money Concepts, Tools and Setups

    ICT Trading Explained

    Сonstantine

    CFD Trading Strategies: A Practical Guide to Risk and Execution

    CFD Trading Strategies

    Alexander

    What is a Fair Value Gap? A Guide to Trading Market Imbalances

    What is Fair Value Gap

    Vitaliy

    Triangle Patterns in Trading: Mastering Ascending, Descending & Symmetrical Strategies for Maximum Profit

    Triangle Patterns in Trading: Ascending, Descending & Symmetrical Guide

    Alexander

    What Is COTI? Payments, Token & Price Prediction

    What is a COTI coin

    Constantine

    Best Copy Trading Software in 2025

    Best Copy Trading Software in 2025
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.